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House’s Price’s increases in Hyderabad
Hyderabad has set a new record in house/plot sales. 36,974 houses were sold in 2024, a growth of 12% compared to 2023. The number of people buying houses with modern features for a better lifestyle is increasing, according to a latest report by real estate services firm Knight Frank. The start of new projects slowed down last year due to the focus of HYDRA (Hyderabad Disaster Response and Asset Protection Agency) on the conservation of tanks, canals and government lands, and the increasing strict stance on illegal constructions. Construction work on 44,013 units started in 2024, 6% less than in 2023.
Prices increased by 8%: House prices in Hyderabad
have increased by an average of 8%. Demand for luxury homes in particular has remained steady. Prices also increased in LB Nagar and Kompally areas, where construction of premium houses has started. Nighthawk revealed that prices in LB Nagar have increased by an average of 11% in a year, and by up to 10% in Kompally.
- 45% of total house sales are in the Rs. 1-2 crore range. Last year, 16,459 houses in this range were sold.
- There was a 72% growth in sales of houses in the Rs. 2-5 crore range. 5,205 such houses were sold.
- 39% in sales of houses in the Rs. 5-10 crore range. There was a 51% growth in houses in the Rs. 10-20 crore range.
- Sales of luxury houses in the Rs. 20-50 crore range reached 35 with a growth of 217%.
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